C-SPAN: Federal Reserve Chair Jerome Powell said he believes core inflation will not hit 2% target range until 2025. Since March 2022, the Federal Reserve has used interest rate hikes as a tool to address high inflation. In June 2023 they paused the hike. Chair Powell warned future consecutive interest rate hikes are not off the table though. He along with the heads of the European Central Bank, Bank of England and Bank of Japan participated in a discussion on combating high inflation and the economic outlook at a forum hosted by the European Central Bank in Sintra, Portugal.
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